The Role of Section 404 of the Sarbanes Oxley Act of 2002 on the Big Four Accounting Firms
In 2002, President Bush enabled an act that profoundly affected the financial industry named the Sarbanes Oxley Act of 2002. This paper will analyze the effects of the Sarbanes Oxley Act of 2002, concentrating on the implications of Section 404 on the Big Four Accounting Firms. Within this research the following questions will be answered: what major events or circumstances led to this event, what is the content of Section 404 of the act, what ramifications were made on the accounting practices at the Big Four Accounting Firms, and what positive and negative effects were placed upon the Big Four Accounting Firms. Additionally, comparison will be made concerning the different impacts it has made on the smaller accounting firms vs. larger accounting firms; as well as, consideration of the disadvantages and advantages the legislature hoped to achieve by producing this act.
School:
Jackson State University
Department:
Accounting
Research Advisor:
Madhu Viswanathan
Department of Research Advisor:
Marketing
Year of Publication:
2005